HOUSTON--(BUSINESS WIRE)--LRR Energy, L.P. (NYSE: LRE) ("LRE" or "LRR Energy") announced today
that it closed its previously announced acquisition of oil and natural
gas properties in the Mid-Continent region in Oklahoma from its sponsor,
Lime Rock Resources, for a purchase price of $21.0 million subject to
customary purchase price adjustments. In addition, as part of the
transaction, LRE acquired in the money commodity hedge contracts valued
at approximately $1.8 million.

LRE funded the acquisition with borrowings under its revolving credit
facility. LRE has $200 million of outstanding borrowings under its
revolving credit facility and $50 million of outstanding borrowings
under its term loan as of January 3, 2013. LRE has an additional $50
million available under its credit facility which management believes
provides ample financial flexibility to execute our capital program and
distribution strategy.

As part of the transaction, LRE acquired the following crude oil and
natural gas hedges:

Index

2013

2014

2015

Natural gas positions

Price swaps (MMBTUs)

NYMEX-HH

248,950

200,916

173,676

Weighted average price

$

5.23

$

5.58

$

5.96

Oil positions

Price swaps (BBLs)

NYMEX-WTI

39,794

28,176

22,128

Weighted average price

$

101.30

$

100.01

$

98.90

About LRR Energy, L.P.

LRR Energy is a Delaware limited partnership formed in April 2011 by
affiliates of Lime Rock Resources to operate, acquire, exploit and
develop producing oil and natural gas properties in North America. LRR
Energy's properties are located in the Permian Basin region in West
Texas and southeast New Mexico, the Mid-Continent region in Oklahoma and
East Texas and the Gulf Coast region in Texas.

Forward-Looking Statements

This press release includes "forward-looking statements" — that is,
statements related to future events. Forward-looking statements are
based on the current expectations of LRR Energy and include any
statement that does not directly relate to a current or historical fact.
In this context, forward-looking statements often address expected
future business and financial performance, and often contain words such
as "may," "predict," "pursue," "expect," "estimate," "project," "plan,"
"believe," "intend," "achievable," "anticipate," "target," "continue,"
"potential," "should," "could" and other similar words. Forward-looking
statements in this press release relate to, among other things, LRR
Energy’s expectations regarding future results, capital expenditures and
liquidity. Actual results and future events could differ materially from
those anticipated or implied in such statements. Forward-looking
statements involve certain risks and uncertainties, and ultimately may
not prove to be accurate. These risks and uncertainties include, among
other things, a decline in oil, natural gas or NGL prices, the risk and
uncertainties involved in producing oil and natural gas, competition in
the oil and natural gas industry, governmental regulations and other
factors. Actual results could differ materially from those anticipated
or implied in the forward-looking statements due to the factors
described under the captions "Risk Factors" in LRR Energy's Annual
Report on Form 10-K for the year ended December 31, 2011 and LRR
Energy's subsequent filings with the Securities and Exchange Commission.
All forward-looking statements speak only as of the date of this press
release. LRR Energy does not intend to update or revise any
forward-looking statements as a result of new information, future events
or otherwise. All forward-looking statements are qualified in their
entirety by this cautionary statement.